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Level 1

How do I record a cashable GIC?

 
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Best answer March 11, 2019

Best Answers
Level 15

How do I record a cashable GIC?

You bought a new Asset with money from the bank, so asset = asset for the accounting. The Check is not posted to Expense, but to Other Asset.

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Level 15

How do I record a cashable GIC?

You bought a new Asset with money from the bank, so asset = asset for the accounting. The Check is not posted to Expense, but to Other Asset.

View solution in original post